Company Valuation: Swedbank

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204,213 199,120 228,671 245,657 360,989 435,215 - -
Change - -2.49% 14.84% 7.43% 46.95% 20.56% - -
Enterprise Value (EV) 204,213 199,120 228,671 245,657 360,989 435,215 435,215 435,215
Change - -2.49% 14.84% 7.43% 46.95% 20.56% 0% 0%
P/E 9.81x 9.13x 6.72x 7.07x 11.1x 14.3x 12.8x 12.2x
PBR 1.26x 1.13x 1.15x 1.12x 1.6x 1.94x 1.89x 1.82x
PEG - 1.95x 0.1x 3.63x -1.82x -2.16x 1.1x 2.21x
Capitalization / Revenue 4.36x 3.74x 3.13x 3.32x 5.25x 6.08x 5.8x 5.57x
EV / Revenue 0x 0x 0x 0x 0x 6.08x 5.8x 5.57x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.7x 9.68x 9.15x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 9.25 9.75 15.15 21.7 20.45 24.6 25.49 26.04
Rate of return 5.08% 5.5% 7.45% 9.94% 6.37% 6.35% 6.58% 6.72%
EPS 2 18.56 19.43 30.27 30.86 28.98 27.06 30.2 31.87
Distribution rate 49.8% 50.2% 50% 70.3% 70.6% 90.9% 84.4% 81.7%
Net sales 1 46,890 53,221 73,057 74,104 68,736 71,607 75,017 78,133
EBITDA - - - - - - - -
EBIT 1 26,043 31,806 48,957 48,728 44,203 40,819 44,972 47,580
Net income 1 20,871 21,877 34,128 34,869 32,759 30,371 33,810 35,735
Net Debt - - - - - - - -
Reference price 2 182.10 177.30 203.30 218.30 321.10 387.30 387.30 387.30
Nbr of stocks (in thousands) 1,121,434 1,123,071 1,124,796 1,125,318 1,124,226 1,123,715 - -
Announcement Date 02/02/22 31/01/23 24/01/24 23/01/25 29/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.11x - - 1.77% 947B
13.43x - - 1.9% 438B
6.3x - - 4.91% 410B
12.84x - - 4.07% 360B
6.29x - - 4.9% 334B
6.76x - - 4.69% 298B
17.57x - - 2.4% 285B
12.36x - - 2.11% 273B
14.64x - - 2.69% 268B
Average 11.59x 3.27% 401.44B
Weighted average by Cap. 11.86x 3.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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